IBBQ vs. FMED

Last updated Jun 16, 2026

IBBQ (Invesco Nasdaq Biotechnology ETF) and FMED (Fidelity Disruptive Medicine ETF) are both Health & Biotech Equities funds. IBBQ is passively managed, while FMED is actively managed. Over the past 3 years, IBBQ returned 13.02%/yr vs 0.73%/yr for FMED. A 0.78 correlation means they provide meaningful diversification when combined. IBBQ charges 0.00%/yr vs 0.50%/yr for FMED.

Performance

IBBQ vs. FMED - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Invesco Nasdaq Biotechnology ETF (IBBQ) and Fidelity Disruptive Medicine ETF (FMED). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, IBBQ achieves a 4.83% return, which is significantly higher than FMED's -4.75% return.

IBBQ

• 1D: 0.54%
• 1M: 2.51%
• YTD: 4.83%
• 6M: 4.79%
• 1Y: 40.36%
• 3Y*: 13.02%
• 5Y*: 4.49%
• 10Y*: —

FMED

• 1D: 0.90%
• 1M: 7.10%
• YTD: -4.75%
• 6M: -6.17%
• 1Y: 8.53%
• 3Y*: 0.73%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

IBBQ vs. FMED - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023
IBBQ Invesco Nasdaq Biotechnology ETF	4.83%	33.32%	-0.63%	5.49%
FMED Fidelity Disruptive Medicine ETF	-4.75%	9.69%	2.29%	-3.59%

Correlation

The correlation between IBBQ and FMED is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jun 12, 2023	0.78

The correlation between IBBQ and FMED has been stable across timeframes, ranging from 0.78 to 0.80 - a consistent structural relationship.

IBBQ vs. FMED - Sectors Allocation Comparison

Sectors	IBBQ	FMED
Healthcare	99.9%	97.1%
Financial Services	0.1%	-
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Industrials	-	-
Real Estate	-	-
Technology	-	0.9%
Utilities	-	-

Return for Risk

IBBQ vs. FMED — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

IBBQ

IBBQ Risk / Return Rank: 74
IBBQ Sharpe Ratio Rank: 68
IBBQ Sortino Ratio Rank: 69
IBBQ Omega Ratio Rank: 61
IBBQ Calmar Ratio Rank: 89
IBBQ Martin Ratio Rank: 84

FMED

FMED Risk / Return Rank: 15
FMED Sharpe Ratio Rank: 16
FMED Sortino Ratio Rank: 16
FMED Omega Ratio Rank: 15
FMED Calmar Ratio Rank: 14
FMED Martin Ratio Rank: 14

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

IBBQ vs. FMED - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Invesco Nasdaq Biotechnology ETF (IBBQ) and Fidelity Disruptive Medicine ETF (FMED). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	IBBQ	FMED	Difference
Sharpe ratio: Return per unit of total volatility	2.02	0.44	+1.58
Sortino ratio: Return per unit of downside risk	2.85	0.79	+2.06
Omega ratio: Gain probability vs. loss probability	1.33	1.09	+0.25
Calmar ratio: Return relative to maximum drawdown	4.86	0.47	+4.40
Martin ratio: Return relative to average drawdown	15.49	1.03	+14.45

IBBQ vs. FMED - Sharpe Ratio Comparison

The current IBBQ Sharpe Ratio is 2.02, which is higher than the FMED Sharpe Ratio of 0.44. The chart below compares the historical Sharpe Ratios of IBBQ and FMED, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

IBBQ vs. FMED - Drawdown Comparison

The maximum IBBQ drawdown since its inception was -37.94%, which is greater than FMED's maximum drawdown of -21.84%. Use the drawdown chart below to compare losses from any high point for IBBQ and FMED.

Drawdown Indicators

	IBBQ	FMED	Difference
Max Drawdown Largest peak-to-trough decline	-37.94%	-21.84%	-16.10%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-18.33%	+9.99%
Max Drawdown (3Y) Largest decline over 3 years	-23.66%	-21.84%	-1.82%
Max Drawdown (5Y) Largest decline over 5 years	-37.94%	—	—
Current Drawdown Current decline from peak	-2.45%	-10.64%	+8.19%
Average Drawdown Average peak-to-trough decline	-16.73%	-7.09%	-9.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.62%	8.27%	-5.65%

Volatility

IBBQ vs. FMED - Volatility Comparison

Invesco Nasdaq Biotechnology ETF (IBBQ) and Fidelity Disruptive Medicine ETF (FMED) have volatilities of 7.73% and 7.50%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	IBBQ	FMED	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.73%	7.50%	+0.23%
Volatility (6M) Calculated over the trailing 6-month period	15.61%	15.01%	+0.60%
Volatility (1Y) Calculated over the trailing 1-year period	20.08%	19.37%	+0.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.90%	18.57%	+3.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.89%	18.57%	+3.32%

IBBQ vs. FMED - Expense Ratio Comparison

IBBQ has a 0.00% expense ratio, which is lower than FMED's 0.50% expense ratio.

Dividends

IBBQ vs. FMED - Dividend Comparison

IBBQ's dividend yield for the trailing twelve months is around 0.84%, while FMED has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021
FMED Fidelity Disruptive Medicine ETF	0.00%	0.00%	0.46%	0.00%	0.00%	0.00%
IBBQ Invesco Nasdaq Biotechnology ETF	0.84%	0.90%	1.14%	0.81%	0.76%	0.63%

Frequently Asked Questions

Can I hold both IBBQ and FMED in my portfolio?

IBBQ and FMED have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, IBBQ or FMED?

IBBQ has higher volatility (7.73%) compared to FMED (7.50%). In terms of maximum drawdown, IBBQ dropped -37.94% vs FMED's -21.84%.

Which ETF is better, IBBQ or FMED?

On 3-year performance, IBBQ leads with 13.02% vs 0.73% for FMED. On fees, IBBQ is cheaper at 0.00% per year. On volatility, FMED has been the lower-risk option at 7.50%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, IBBQ or FMED?

Over the 3-year period, IBBQ has performed better with a 13.02% return vs 0.73%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, IBBQ or FMED?

IBBQ is cheaper with a 0.00% expense ratio, compared with 0.50% for FMED.

Which ETF pays a higher dividend yield, IBBQ or FMED?

IBBQ has the higher dividend yield at 0.84%, compared with 0.00% for FMED.

What is the main difference between IBBQ and FMED?

They also come from different issuers: Invesco and Fidelity. Their fees differ too: 0.00% for IBBQ and 0.50% for FMED.

Which has better risk-adjusted returns?

IBBQ currently has the higher Sharpe Ratio (2.02 vs 0.44), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.